Thursday, October 28, 2010

Nellix Acquired By Endologix

Mountain View-based Nellix, a developer of treatments for abdominal aortic aneurysms, has been acquired. According to acquiring firm Endologix, it will pay $15M in stock plus up to $39M in milestone payments for Nellix. As part of the funding, Essex Woodlands Health Ventures, the major investor in Nellix, will invest $15M in Endologix. Nellix was venture backed by the Bank of Angels, Essex Woodlands Health Ventures, and Incubic; the firm had raised at least $21M in funding, according to regulatory filings.